Analyst Edward Nash from Canaccord Genuity reiterated a Buy rating on Sagimet Biosciences, Inc. Class A and keeping the price target at $28.00.
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Edward Nash has given his Buy rating due to a combination of factors including the promising developments in Sagimet Biosciences’ clinical trials. The company has initiated a Phase I pharmacokinetic study combining its FASN inhibitor, denifanstat, with a THR-β agonist, resmetirom, which has already dosed its first patient. This study aims to evaluate the safety, tolerability, and potential drug-drug interactions of the combination therapy, with top-line data expected in the first half of 2026.
The rationale behind the combination therapy is supported by previous studies indicating a synergistic effect, where the FASN inhibitor reduces fat accumulation and the THR-β agonist accelerates fat burning. These effects are crucial in treating MASH, a liver disease. Furthermore, the favorable safety profile of denifanstat observed in prior Phase II trials adds to the attractiveness of this combination therapy. Based on these factors, Nash reiterates a 12-month price target of $28 for Sagimet Biosciences.
Nash covers the Healthcare sector, focusing on stocks such as Corcept Therapeutics, Travere Therapeutics, and Madrigal Pharmaceuticals. According to TipRanks, Nash has an average return of 17.0% and a 47.38% success rate on recommended stocks.